"Somebody once said that in looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don't have the first, the other two will kill you. You think about it; it's true. If you hire somebody without the first, you really want them to be dumb and lazy.
Chains of habit are too light to be felt until they are too heavy to be broken.
Risk can be greatly reduced by concentrating on only a few holdings. Wide diversification is only required when investors do not understand what they are doing.
An investor should act as though he had a lifetime decision card with just twenty punches on it.
I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
If past history was all there was to the game, the richest people would be librarians.
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Lethargy, bordering on sloth, should remain the cornerstone of an investment style.
Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.
It's only when the tide goes out that you learn who's been swimming naked.
It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head." Warren Buffett on gold